Oakland Tribune from Oakland, California • 35

i 34 Oaklanb (Tribune ULiHJSJi March 8, 1978 'v j' 6 jvt J.v.s '3 J.A. did Livingston British optimism runs high I stood with Albert Calou in the mezzanine overlooking the work By BILL DOYLE Editor Calou's employs 72 workers and has been adding a few at a time as well as working overtime to keep pace with the demand. LONDON But where are the snows of yesteryear? asked Francois Villon five centuries ago. floor where bright red napkins flut-suc ironers tered off of the automa and racks of varicolored uniforms added to the panorama of color. The company president turned consultant expects the growth in the restaurant business to continue Dont look far, today youll find them here, replies a taken-aback British populace whose countryside has been covered with an unexpected whiteness.

It was a far different scene than the one that prevailed when his grandfather Pierre Calou came to ikland in 1878 and carried bas- and is hopeful that the revitalization of downtown Oakland will However, not even this freakish cold we're bring added hotel patronage. not used to this daunts the underlying opti-ich diffuses itself through the British' mism which kets of finished laundry on his head as he made deliveries to customers. economy. Maybe Chancellor of the Exchequer my. i The first buildings of the company, which is situated at 730 29th burned in a fire in the summer of .1932.

Denis Healey wont be able to make good on his of 3tt i promise this year. Maybe ALBERT CALOU, IN FRONT OF UNIQUE INDUSTRIAL BUILDING Prime Minister 'James Callaghan wont dare, to Oakland has been good to us," said Albert, who now serves as a consultant to the Santucci family which bought Calous Linen Service 1 six years ago and added it to other laundry operations in San Francisco, South San Francisco and Palo Alto. Leader Margaret ballot boxes in the take on Conservative Part: Thatcher in an early trip to fall. The next morning my father Camille met with the architects Miller and1 Wamecke to begin designing a replacement on the same site. That structure of French cha- 'teau design, made of clinker brick establlshed An most 8 minds.1977 is re-and covered witha slate roof, was ready in 90 days.

garded as the year of financial salvation the in which bankruptcy was averted, the year Sea the Calou explained, 'There was no one in our family who wanted to run it. which North oil proi produced riches, price of the pound rose vis-a-vis the dollar, and money flowed into Great Britian a welcome infusion of foreign confidence. It was designated by the American Society of Architects as the most beautiful industrial building built in America in 1932. The business has changed with the years. Pierres customers were primarily households.

At one time in the early '20s the company had 28 drivers in Model-T Fords who picked up and delivered home laundry but the home washing machine changed all of that And 1978 is regarded as the corollary year the year of economic expansion. The output of Ichhas been the year goods and services, which has been limping along at an annual rate of expansion of sometimes 1 percent and other times 2 percent, will surely rise so runs the consensus to 3 percent or better. All the news isnt reassuring. Calou and I moved across the street so that a picture could be taken of the exterior. He has vivid memories of hundreds of men who lined up there during the depression days hoping that one of the workmen on the construction Job would fail to showup and they would be called to work for the 85 a day that everyone received.

v5 We saw it coming and began to shift our business to linen supply, said Calou. Now, he added, about 80 percent of our business is with restaurants. We also provide linens for hotels such as the Edge-water and Hilton in Oakland and some of the Holiday Inns and we service some doctors and dentists. THE BRITISH PRIDE THEMSELVES on the quality, the graciousness, of British life. This has its minus sic In January, to the discomfiture of British Treasury officials, imports ixceeded exports by As we walked back and climbed -the tile-faced stairs to the second floor office with the fireplace Calou said proudly, I was born in the same space in the old building that office more than 300 million pounds 8600 million.

The occupies.1 oi fear is that the propensity of Britons to enjoy life sing a bulge in imports that may not be by future increases in exports. is causini offset A combination of factors keeps business going strong. There are fewer companies in our line of work today because all of the hand work is costly and when you combine that with all of the new restaurants in the Eastbay and the hotel business that has been strong for the last couple of years we do well." Blessings in economics are rarely unmixed. Because the foreign exchange value of the pound He hasnt gone too far from home. I live in Oakland and I work here.

We participate in the business and social life of the community. I think it's essential that business peo ple live in the city. Its important to the health of the community. has increased, Britons are able to buy more with their pounds than formerly. At the same time, the capacity of British exporters to sell abroad has been cramped.

The rise in the price of the pound means that British sellers have to charge more for their products. Honor Bonds offered This is the reverse of what U.S. Treasury officials are hoping for. The decline in the foreign ilue of the dollar supposedly will in exchange value crease the capability of American companies to market goods in Europe and Japan, and, because Boon for cheaters it now takes more dollars to acquire German marks, British pounds, -Japanese yen, the dollar prices of goods imported from abroad tend to increase. Consequently, Americans ought to be less import-prone.

Hence, the U.S. balance-of-trade deficit should diminish. IMmw ptaM fey RON RESIHBt INSIDE, HUGE PRESSES TURN LAUNDRY INTO WORK OF ART WasfetogtM Star asks in an advertisement, Why go to Switzerland? to get the advantages of a secret Swiss bank A pun is hard to resist The import-unities of British have given rise to veiled protection the WASHINGTON -Banks across the country are rushing to offer a type of deposit whose principal attraction is that it would give millions of American little guys- the' opportunity to cheat on federal East Bay Society By WILLIAM HAMILTON ism. The government has asked the Japanese to curtail put quotas on sales of automobiles in Britain, and the export-loving Japanese have been politely resistant City National Bank of Ohio, is even more explicit. Caught by surprise by the rapid bnmjk of so-called honor spread The bank will not issue an IRS 1099 form, it trumpets.

Since no name appears on the bond and no customer identification number is required, the Honor Bond you buy is completely anonymous. mov- federal agencies are reported them. ing to clamp down on ADDITIONALLY, THE UNFAVORABLE balance of trade in January has caused Chancellor Healey to do some rethinking. He had indicated early that he would be able to relax the governments stringency in his forthcoming budget in April A big tax cut to enable workers to improve their living standards has been considered. Now, however, it may be necessary to be less outgiving so as not to overstimulate Furthermore; the bank points out that the bond can be transferred as easily as cash.

Technically, honor bonds are certificates of deposit made out to the bearer. No names or identification numbers are recorded and the holder is bound only by his honor hence the name to report the interest on his tax return. They can be used as gifts or to pay debts, the ad continues. Upon A rise in consumption has two undesirable The bonds are for terms of as long as 12 years and are transferable from one individual to another without notice to anyone. In effect, they are interest-bearing cash.

consequences. First, it invites Imports of foreign that the British goods; secondly, to the extent consume home exportable goods automobiles as an instance it reduces sales and earning abroad. station and surrender of the by bearer, the bank will pay the face amount, along with accumulated interest Another bank put the pitch slightly differently: Numbered Savings are Issued by Serial Number only, To protect Your privacy! Theyre perfect gifts because no transfer notice is names, no notice. Upon presentation to the bank, the bearer of the bond is paid the face amount plus accumulated interest no questions asked. Still, theres no taking the Joy out of the drop in inflation.

The Retail nice Index rose by only 9.9 percent in the 12 months from January 1977 to January 1978. It was the first time the British could bask in single-digit inflation since October 1973. Congressional investigators re-prat that the bonds have been tacitly sanctioned by the federal banking agencies and that their use is spreading rapidly with the tax dodge as the feature Since the Callaghan government is trying to to limit their wage demands to workers Investigators say the braids can be used to evade gift and inheritance taxes as well -as income taxes, and they fear that they will be used by organized crime to launder illegal The House Commerce, Consumer and Monetary Affairs subcommittee will hold hearings into the problems posed by honor bonds .0 percent and since such persuasion prevailed settled when the coal miners settled for that amount this drop in the inflation rate is a reinforcement. Some of the banks offering the bonds have been less than subtie in their advertising. 4.

Heritage Bank of Camden, With direct deposit I can stay another month and enroll in hula classes. Direct 232lcan make your good life a little easier. Foreign buyers Gilmore might close its mill prices NEW YORK (AP) stock pi overcame some midday hesitqtirai to Stock ay hesitation to post tending yesterdays in grab rally. Your regular government check or other income can be deposited directly to your Security National Bank checking or savings account. Even if you are out of town, your deposit will be made automatically.

The Bank guarantees recurring payments from several government agencies, such as the Social Security and Veterans Administrations. You can have complete confidence that your funds will be available on a scheduled day each month. Ask a Security National Personal Banker to help you arrange for convenient, safe, reliable Direct Deposit. SEATTLE (AP) The Gilmore Steel Corp. told a' federal panel yesterday it might have to close its Portland, operation if Japanese steel mills are allowed to continue offering carbon plate steel at prices below cost The Dow Jones industrial average 8.91.

Gainers led de- at 750.70, ui closed diners 8-5 on the Big Board, where volume reached 22.18 million, shares near the WASHINGTON (AP) Foreigners are grabbing up small and medium-size U.S. businesses at bargain-basement prices because of a sharp drop in investment by Americans, according to the chairman of the American Stock Exchange. PPeared before the UB. Interna tional Trade Coin mission in an effort to prove Uiat cutn8 five Japanese producers had resulted in serious economic impacts. Analysts noted that the economic news background was largely negative.

SECURITY NATIONAL BANK For one, thing, they cited continuing uncertainty over efforts to get the na-tions coal mines back in operation. helping make the good life better The Japanese firms were represented by counsel but deferred offering testimony until a second hearing scheduled forMarch I6. ii ington, D.C. My information 2200 Bancroft Way ericetoftCA 94704 845-4846 2044 Fronldin Street Oakland, CA 94612 835-8100 In addition, some bad news was ex- pected tomorrow in the governments report on the wholesale price index for February. Advance estimates were that prices of raw materials would show, a rise at least as sharp as the 10.8 nual rate of gain reported in The commission investigation was ordered after the U.S.

Treasury Department found that the Japanese firms were selling carbon plate steel in the northwest below cost 1500 Newell Avenue Walnut Creek, CA 94596 944-6000 from Investment bankers around the country is that well over 50 percent of their acquisition assignments are currently on behalf of foreign clients, Arthur Levitt head of the exchange, told the House Ways and Means Committee. Should the commission find that the practice has caused serious economic impact to domestic Other Offices located in Lafayette, Rossmoor, Concord and Antioch Meanwhile gold reached 8190 an ounce on European markets as the rfnnr held steady in nervous trading. Mom br F.D.I.C. producers, the Treasury Department would impose so-called dumping tariffs in an effort to make prices more competitive..